China ‘still buying 90% of Iranian oil’ despite US sanctions waiver

I think China is getting while the getting is good. I imagine Iran is probably not up charging too much.

Also I think China knows that if this escalation continues then there’s a non-zero chance that the entire Persian gulf production line can be destroyed and they will have to look elsewhere in the world for oil and that probably means in one way or another relying on the United States for oil imports, which is something that they desperately want to avoid.